Karooooo Reports Strong Q1 2026 Results Highlighted By Accelerating Cartrack Revenue Growth
Q1 2026 highlights include:
Q1 Cartrack Subscription Revenue growth accelerated to 19% Y/Y
Karooooo EPS increased 19% Y/Y to ZAR8.55 (Q1 2025: ZAR7.17)
Karooooo Subscribers increased 17% to 2.4 million (Q1 2025: 2.0 million)
Zak Calisto, CEO and Founder:
"We are pleased to report a strong start to FY 2026 highlighted by accelerating Cartrack subscription revenue growth across all regions. We are realizing the benefits of our extensive footprint, and we believe that we remain well positioned to build our customer base. We remain optimistic about continued healthy organic growth in all geographies. Southeast Asia continues to present the largest growth opportunity for us over the medium-to-long term and is our fastest growing region. Cartrack Subscription Revenue growth in Southeast Asia accelerated to 30% in the first quarter."
Cartrack total revenue increased 18% to ZAR1,156 million in Q1 2026 (Q1 2025: ZAR981 million). Cartrack subscription revenue increased 19% to ZAR1,138 million in Q1 2026 (Q1 2025: ZAR960 million). Cartrack delivered net subscriber additions of 84,013 during the quarter (Q1 2025: 75,910).
Karooooo Logistics continues to scale and its revenue increased 20% to ZAR121 million in Q4 2025 (Q1 2025: ZAR101 million).
Karooooo's EPS increased 19% to ZAR8.55 in Q1 2026 (Q1 2025: ZAR7.17).
Karooooo's consistently profitable business model, underpinned by a strong balance sheet and healthy cash position, positions it well to capitalize on a growing opportunity.
Full earnings: www.karooooo.com
About Karooooo
Karooooo digitally transforms physical operations by simplifying decision making. Through its cloud platform, Karooooo empowers businesses to conquer operations including fleet maintenance, fuel management and asset utilization, workforce management, logistics, safety, compliance, risk and environmental impact. Karooooo's differentiated insights and analytics simplify day-to-day operations and enable businesses to decrease costs, increase efficiency, improve safety and strengthen workforce and customer satisfaction. Karooooo is headquartered in Singapore and services more than 125,000 commercial customers and more than 2,400,000 active subscribers in more than 20 countries.
For more information, visit www.karooooo.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250722296714/en/
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
KKR Launches Tender Offer for Topcon
TOKYO, July 28, 2025--(BUSINESS WIRE)--KKR, a leading global investment firm, announced today that it will launch its tender offer ("Tender Offer") for the common shares and share acquisition rights, etc. of Topcon Corporation ("Topcon" or the "Company"; TSE stock code 7732). The Tender Offer will be made through TK Co., Ltd. ("Offeror"), an entity owned by the investment funds managed by KKR. The Tender Offer will commence on July 29, 2025 and will run until September 9, 2025. The Offeror will commence the Tender Offer to acquire all outstanding common shares and share acquisition rights (excluding treasury shares held by Topcon) with a tender offer price of JPY 3,300 per common share and JPY 193,400 per 7th Series Share Acquisition Right.1 Topcon is a global leader in the manufacturing of technology, leveraging its strengths in optical technology and precision measurement technology since its founding. Topcon is expanding its business globally with its unique DX solutions that combine advanced technologies such as IoT platforms and AI. Topcon is pursuing its long-term vision leading up to its 100th anniversary in 2032, and the Company has been implementing its "Mid-Term Management Plan 2025" covering the fiscal years 2023–2025. Under this plan, Topcon has pursued sustainable business growth and improved profitability by deepening its orientation towards customers, and as the next step, the Company aims to evolve into "New Topcon 2.0," a business structure that will further accelerate the competitiveness of the Topcon Group. KKR is making this investment predominantly from its Asian Fund IV. Topcon President and CEO, Takashi Eto, has agreed to tender his shares into the Tender Offer. Following the completion of the Tender Offer, Mr. Eto and funds managed by JIC Capital, Ltd. will invest in KKR-managed investment vehicles that will own Topcon. This series of transactions, including the Tender Offer, constitutes a management buyout. Additionally, funds managed by ValueAct Capital, a major shareholder of Topcon, have also agreed to tender shares in the Tender Offer and invest in KKR-managed investment vehicles that will own Topcon. For more details regarding the announcement, please refer to the full text of the release issued by the Offeror today titled, "Notice Regarding the Commencement of Tender Offer for the Shares of Topcon Corporation (Securities Code: 7732) by TK Co., Ltd. as part of MBO Implementation." Forward-looking Statements This press release should be read in conjunction with the release issued by the Offeror today titled "Notice Regarding the Commencement of Tender Offer for the Shares of Topcon Corporation (Securities Code: 7732) by TK Co., Ltd. as part of MBO Implementation." The purpose of this press release is to publicly announce the Tender Offer and it has not been prepared for the purpose of soliciting an offer to sell or purchase in the Tender Offer. When making an application to tender, please be sure to read the Tender Offer Explanatory Statement for the Tender Offer and make your own decision as a shareholder or share acquisition right holder. This press release does not constitute, either in whole or in part, a solicitation of an offer to sell or purchase any securities, and the existence of this press release (or any part thereof) or its distribution shall not be construed as a basis for any agreement regarding the Tender Offer, nor shall it be relied upon in concluding an agreement regarding the Tender Offer. The Tender Offer will be conducted in compliance with the procedures and information disclosure standards set forth in Japanese law, and those procedures and standards are not always the same as the procedures and information disclosure standards in the U.S. In particular, neither Sections 13(e) or 14(d) of the U.S. Securities Exchange Act of 1934 (as amended; the same shall apply hereinafter) or the rules under these sections apply to the Tender Offer; and therefore the Tender Offer is not conducted in accordance with those procedures and standards. In addition, because the Offeror is a corporation incorporated outside the U.S., it may be difficult to exercise rights or demands against it that can be asserted based on U.S. securities laws. It also may be impossible to initiate an action against a corporation that is based outside of the U.S. or its officers in a court outside of the U.S. on the grounds of a violation of U.S. securities-related laws. Furthermore, there is no guarantee that a corporation that is based outside of the U.S. or its affiliates may be compelled to submit themselves to the jurisdiction of a U.S. court. Unless otherwise specified, all procedures relating to the Tender Offer are to be conducted entirely in Japanese. All or a part of the documentation relating to the Tender Offer will be prepared in English; however, if there is any discrepancy between the English-language documents and the Japanese-language documents, the Japanese-language documents shall prevail. This press release includes statements that fall under "forward-looking statements" as defined in Section 27A of the U.S. Securities Act of 1933 (as amended) and Section 21E of the Securities Exchange Act of 1934. Due to known or unknown risks, uncertainties or other factors, actual results may differ materially from the predictions indicated by the statements that are implicitly or explicitly forward-looking statements. Neither the Offeror nor any of its affiliates guarantee that the predictions indicated by the statements that are implicitly or expressly forward-looking statements will materialize. The forward-looking statements in this press release were prepared based on information held by the Offeror as of today, and the Offeror and its affiliates shall not be obliged to amend or revise such statements to reflect future events or circumstances, except as required by laws and regulations. The Offeror, the financial advisors of the Offeror and the Company, and the tender offer agent (and their respective affiliates) may purchase the common shares and share acquisition rights, etc. of the Company, by means other than the Tender Offer, or conduct an act aimed at such purchases, for their own account or for their client's accounts, including in the scope of their ordinary business, to the extent permitted under financial instrument exchange-related laws and regulations, and any other applicable laws and regulations in Japan, in accordance with the requirements of Rule 14e-5(b) of the U.S. Securities Exchange Act of 1934 during the Tender Offer period. Such purchases may be conducted at the market price through market transactions or at a price determined by negotiations off-market. In the event that information regarding such purchases is disclosed in Japan, such information will also be disclosed on the English website of the person conducting such purchases (or by any other method of public disclosure). If a shareholder exercises its right to demand the purchase of shares of less than one unit in accordance with the Companies Act, the Company may buy back its own shares during the Tender Offer period in accordance with the procedures required by laws and regulations. About KKR KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR's website at For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at 1 7th Series Share Acquisition Rights issued pursuant to a resolution of the Company's Board of Directors held on June 25, 2021 (exercise period is from April 1, 2024 to March 31, 2029) View source version on Contacts Media Contacts Wei Jun Ong+65 6922 Samuel Brustad+81 90 7094
WIRED
27 minutes ago
- WIRED
Seriously, Why Do Some AI Chatbot Subscriptions Cost More Than $200?
Jul 28, 2025 6:30 AM The price of expensive chatbot subscriptions is driven by vibes—not immediate profitability for AI companies. Photo-Illustration:Why does OpenAI's monthly subscription for ChatGPT Pro cost $200? Because CEO Sam Altman said so. 'I personally chose the price and thought we would make some money,' Altman wrote on X. Launched late last year, the plan designed for power users includes almost unlimited access to ChatGPT as well as first dibs on feature launches, like OpenAI's new agent. The plan attracted, well, power users. A month after its initial release, Altman claimed OpenAI was still losing money on the all-you-can-eat subscription. Even though Altman admitted the $200 monthly tier was a money-loser, the release set a precedent and ushered in the vibe-based pricing era for expensive chatbot subscriptions. Generative AI tools are costly and resource-intensive to run, with many startups rapidly burning through cash. And much like how OpenAI defined the consumer market for chatbots with the release of ChatGPT, Altman's $200-a-month price tier for ChatGPT Pro was matched by competitors. In April, Anthropic dropped Claude Max for $200 a month. Google got into the game not too long after with the AI Ultra plan for Gemini, which costs $250 a month and includes cloud storage. These releases were followed by the monthly $200 Cursor Ultra plan, for AI-assisted coding, and the $200 monthly Perplexity Max plan, for AI-powered search. The most recent addition to the trend, xAI's SuperGrok plan, is also the most expensive at $300. Despite this trend in pricing for the most expensive tier, many of the companies continue to offer free, albeit limited, access to their generative AI tools as well as a $20-a-month plan for users who want more access to the models but aren't going buck wild with it. 'This higher-tier subscription is first testing for new interfaces and new interactions,' says Allie K. Miller, an influential business consultant who subscribes to many of the most expensive plans. She sorts who's actually paying for these $200-and-up plans into two core groups. First, you have a faction of Silicon Valley insiders who have money to burn and want to experiment with 'alpha products that are on the more expensive side.' For this group the value is not really about making money with the tools. 'It gives them not only cachet in their community, but they feel like a new-age explorer,' she says. Miller lumps Google Glass and Apple Vision Pro owners into this same group. The second core group of subs, as Miller describes it, believes they are getting a solid return on their investment. 'We're making back that money with time saved or revenue earned in very little time,' she says. This could include Silicon Valley investors who are trying to use AI Ultra to automate email communications, software developers who are using Claude Max to code for hours every day, and investment bankers who are turning to Perplexity Max for daily market updates. Dmitry Shevelenko, the chief business officer at Perplexity, claims that a majority of subscribers to the Max plan use it as a money making tool. 'I probably saved a lot more than $200 per month for a long time by talking to Claude about my mortgage,' says Scott White, Anthropic's head of product for Claude. He thinks of Claude Max subscribers 'as people with a builder mentality, a problem-solving mentality who are sophisticated enough and motivated enough to get all of the use and power output.' White used the generative AI tool to help decide how much of his home mortgage to pay down as well as other personal financial analysis. Why the $200 price tag, though? White declined to discuss specifics about the economics of Claude Max's pricing and whether Anthropic is losing money on the plan. He brought the conversation back to the value provided by Anthropic to power users and how the abilities of AI tools are improving. 'It's a very dynamic environment,' says White. 'We are going to be adaptable. The market is going to be adaptable.' Leaders at Google are also keeping an eye on the competition when it comes to pricing the company's most expensive AI subscription. 'We look at what makes sense in terms of the market landscape,' says Shimrit Ben-Yair, a vice president of Google One and Google Photos. She lists the cost to provide the included features and the perceived value to consumers as two additional factors contributing to why Google picked $250 a month for its AI Ultra plan. Google did not respond to follow-up messages asking whether the company is losing money by providing this to power users. OpenAI and Cursor declined to comment for this story. Market Forces As a non-builder normie, paying that much for any AI tool is impossible to justify as part of my budget. I canceled my ChatGPT Pro subscription almost immediately after I finished testing the new agent feature for work. When the recurring $18 charge for Netflix is on the bubble, allocating $200 every month to an AI tool feels laughable. In this economy? Be real. But, leaders at AI companies are hopeful that those top-shelf plans, which are pleasing power users now, will attract more mainstream subscribers in the future. Ben-Yair considers Google's $20-a-month plan for basic Gemini access as already having reached mainstream adoption from consumers, with the $250-a-month tier potentially following soon behind. 'It's true that while it skews a bit more professional today,' Ben-Yair says, 'my personal passion is the consumer space and what it can unlock.' Anthropic's White hopes to cultivate additional power users for Claude by making the tool simpler to use and providing more user guidance inside the chatbot. Even if the companies were able to convert more everyday people into power users who are willing to pay multiple hundreds a month for AI access—a tough sell for the millions of Americans living paycheck to paycheck—it remains unclear how long OpenAI, Anthropic, Google, and others can even can afford to offer this high-level access to generative AI tools. One thing that is almost for certain, though, is that the cost of these plans won't stay stagnant in the coming years. They will just get more expensive. 'We have not hit the ceiling on the cost of these systems, particularly in the enterprise space,' says Miller. When the market price is set by vibes, truly anything is possible.
Yahoo
44 minutes ago
- Yahoo
Rupee slips but sidesteps firmer dollar as flows dominate price-action
By Jaspreet Kalra MUMBAI (Reuters) - The Indian rupee dipped on Monday as month-end dollar bids from importers exerted some pressure, but the currency largely sidestepped the spillover from a firmer dollar, which traders indicated was due to the absence of substantial outflows. The rupee closed at 86.6650 against the U.S. dollar, 0.2% down from its close of 86.5150 in the previous session. While the rupee was trading marginally stronger in the first half of the session, it reversed course in the latter half as the dollar index rose. Asian currencies were a tad lower on the day, with the offshore Chinese yuan down by 0.1%. The rupee is "only reacting to flows" over recent sessions, and has found some support above 86.60, a trader at a state-run bank said, pointing to price action driven by foreign portfolio flows and corporate activity. India's benchmark equity indexes, the BSE Sensex and Nifty 50 fell 0.7% and 0.63% on the day, respectively, diverging from gains in most regional equities. The country's benchmark 10-year bond yield, meanwhile, ticked up to 6.3603%. Equities in Europe were mostly higher while the euro fell, after the U.S. and EU reached a trade agreement over the weekend and investors welcomed the deal with cautious optimism. The euro's recent price action "likely reflects more general U.S. dollar sentiment that was improving toward the end of last week, and we suspect (the sentiment) could extend further this week as investors' optimism over the U.S. economy improves," MUFG said in a note. U.S. economic data, including the closely watched non-farm payrolls report, will be in focus as investors gauge how far the optimism extends. The Federal Reserve, meanwhile, will deliver its policy decision on Wednesday and is widely expected to keep rates unchanged. Interest rate futures are currently pricing in a little over 60% chance of a rate cut in September, per CME's FedWatch tool. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
